Answered: An audio/video equipment discount store…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Question

An audio/video equipment discount store has 36 salespeople. Daily dollar sales for individual sellers enployed by the store has a normal distribution with a mean of $2000 and a standard deviation of $300. The store's management is going to implement an incentive program awarding a daily bonus to any salesperson who achieves daily sales over $2150. To four decimal places what is the probablitiy that an individual salesperson will earn a bonus on any given day?

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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